Liquidation: NB Private Markets Fund III (TE) LLC

Form Type: N-8F

Filing Date: 2025-06-16

Corporate Action: Liquidation

Type: New

Accession Number: 000113322825006330

Filing Summary: NB Private Markets Fund III (TE) LLC is applying for deregistration due to liquidation. The application is marked as an initial filing. The decision for liquidation received approval from the board of directors on June 13, 2025. The fund has distributed assets to its shareholders as part of the liquidation process on June 9, 2025, based on net assets and pro rata ownership. The total cash retained by the fund is $26,639 to satisfy expected liabilities, which include legal expenses of $5,000, administrative fees of $13,875, custody fees of $2,500, among others, totaling roughly $26,639. There are no outstanding debts reported other than these liabilities. The fund is not a party to any pending litigation or administrative proceedings and does not intend to engage in any business activities beyond winding up its affairs.

Form Type: N-CSR

Filing Date: 2025-05-23

Corporate Action: Liquidation

Type: Update

Accession Number: 000110465925052317

Filing Summary: NB Private Markets Fund III (TE) LLC filed a Certified Shareholder Report for the fiscal year ended March 31, 2025. The report indicates that the Master Fund has sold all of its underlying Portfolio Fund interests to various institutional investors as part of a secondary sale process aimed at winding down the portfolio and distributing proceeds to investors. The fund recorded a total return of -28.3% for the fiscal year, with significant asset depreciation attributed to the secondary sale transactions. The fund is navigating a complex macroeconomic environment, characterized by rising unemployment and moderated inflation, leading to Federal Reserve interest rate cuts aimed at stabilizing the economy. Looking ahead into 2025, the private equity investment landscape is anticipated to present significant opportunities despite uncertainties surrounding global policies and market conditions. The Fund expects to continue focusing on high-quality asset monetization strategies while addressing liquidity challenges in a constrained market.